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Hedge Fund Plans Structured Credit Arm

Elliot Management, a New York-based hedge fund manager with USD3 billion in assets, has hired Steve Kasoff, high-yield collateralized debt obligation staffer at Deutsche Bank in New York, to set up a structured credit trading operation. The trading is likely to be done through its Elliot Associates hedge fund, according to officials familiar with the move. Kasoff declined comment.

Elliot Associates is a multi-strategy risk arbitrage fund with USD1.3 billion in assets, according to Institutional Investor magazine's 2003 hedge fund rankings. It returned 6.6% after fees last year.

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